Retail trading is related to which of the following activities?
Answer & explanation
Correct answer: option 2
The correct answer is Option (2) → Tertiary activity
Option (1) Quaternary activity — Incorrect. Quaternary activities centre on knowledge, not on selling goods.
Option (2) Tertiary activity — Correct. Trade, transport, communication and services are tertiary activities. Retail trading is the business of selling goods directly to the consumers, from stores or through non-store ways such as handcarts, mail-order and the internet.
Option (3) Secondary activity — Incorrect. Secondary activities add value to raw materials; a retailer only sells what others have made.
Option (4) Primary activity — Incorrect. Primary activities depend directly on the environment, as farming and mining do.
NCERT (2025-26): “Types of Tertiary Activities … Thus, trade, transport, communication and services are some of the tertiary activities discussed in this section. The chart provides the basis for classifying the tertiary activities. Trade and commerce Trade is essentially buying and selling of items produced elsewhere. All the services in retail and wholesale trading or commerce are specifically intended for profit.…” “Retail Trading … This is the business activity concerned with the sale of goods directly to the consumers. Most of the retail trading takes place in fixed establishments or stores solely devoted to selling. Street peddling, handcarts, trucks, door-to-door, mail-order, telephone, automatic vending machines and internet are examples of non-store retail trading.” |